Hong Kong interbank rates rose across the board and the HSI fell below 20000 - hot discussion

(Related data drawing)

Hong Kong Wen Wei Po reported that Hong Kong dollar interest rates rose across the board yesterday, and overnight, one week and two weeks' interest rates rose to more than 3 percent again. In addition, the Biden government planned to restrict American enterprises from investing in key economic areas in China, and market concerns about the intensification of Sino US rivalry dragged down the performance of the market. The Hang Seng Index fell more than 300 points at most yesterday, down to 19734 points. It once lost the 250 day bull bear boundary (19735 points) and closed at 19959, down 115 points or 0.58%. More than 96.4 billion yuan was traded in the market. New economy stocks such as ATMX were weak.

Prudent investment climate, led by technology stocks

Li Weijie, director of Huasheng Securities Brokerage Department, said that the HSI has been weak since last week, mainly because of the further deterioration of Sino US relations, which made the investment atmosphere more cautious. Technology stocks led the decline, mainly because the sector continued to have bad news at different levels. For example, Tencent (0700) and Alibaba (9988) were both underweight by major shareholders, and Tencent also reduced its holdings quickly (1024). In addition, Alibaba's spin off news had faded, and technology stocks were temporarily pressured by the lack of positive catalysis. The Hang Seng Index just fell back to 250 antenna yesterday and saw a rebound. At present, the big market is mainly supported by AIA (1299). I believe that if the callback pressure of the mainland stock market subsides or technology stocks regain momentum, Hong Kong stocks can consolidate at the 20000 point level.

Li Weijie continued to point out that when entering the performance period, investor sentiment and attitude will be affected. In addition, with the coming of the "May Day Golden Week" holiday, it is believed that the trading volume will continue to be low, and Hong Kong stocks will also be significantly more volatile. It is estimated that the HSI will be supported at 19700 points or 250 antenna points in the short term, looking up at 20800 points. If the 250 antenna is lost, it indicates that the market adjustment pressure is high, and the HSI may try the 19500 point range.

May Day Golden Week is coming, the deal is still light

Tan Langwei, the joint director of Fuchang Securities, said that the market was worried about the Sino US rivalry, and the reduction of technology shares by major shareholders also added to the haze of the market. After Easter, Hong Kong shares have been weak all the way, with low turnover, and there seems to be no particularly good news. Next will be the "May Day Golden Week", and Beishui is preparing for a "holiday". The performance of Hong Kong stocks has been weak due to multiple factors. In terms of technology stocks, Tencent had been strong after its performance, but after Easter, it was reported that it had been underweight, that is, its performance became weaker.

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